The Week in Review:
Hope everyone had a Happy Thanksgiving! Interest rates started to improve at the beginning of the week, but once again ended the week about .125% higher as volatility struck once again. Last week marks the third week in a row we have seen interest rates increase.
What to Expect:
This week will be interesting with several important economic reports being released, including the Jobs Report scheduled for Friday. Has the labor market improved? If so, rates would likely continue the uphill climb. However, there are reemerging concerns about European banking and debt problems. Nervousness about escalating issues overseas has the potential to drive funds into the US bond market which could cause rates to reverse the upward trend of the past few weeks.
Breg-ometer:
Next 7 Days: Economic releases and news will dictate direction this week.
Next 30 to 90 Days: As usual, there are several different factors in play to effect the direction of rates. Until the current trend is turned around, we have to believe rates will continue to climb so be sure to lock your loans.
Courtesy of:
Bob Bregitzer
Southeast Mortgage
[where: 30080]